CoinSmart to seek monetary damages from Coinsquare following collapse of acquisition deal
CoinSmart accepts deal is no more, intends to “commence legal proceedings against Coinsquare.”
Canadian Startup News
Hippoc announces $3 million to help marketers test ad campaigns using neuroscience
Hippoc’s web-based platform can predict the cognitive impact of an ad before it goes live.
After selling startup to Instacart, New School Foods founder raises $15.9 million CAD to create plant-based meat
Toronto startup’s tech can produce plant-based salmon fillets.
How to grow investment in women-led startups
Women-led businesses are still underfunded, despite a multi-trillion market opportunity.
Lightspeed one-time net loss of $814.8 million USD sends Groundhog Day signal: six more weeks of tech winter
Lightspeed makes slight revenue gain but faces recessionary pressures in the marketplace.
CIBC Innovation Banking president Mark McQueen to depart for “next adventure”
McQueen joined CIBC through its acquisition of Wellington Financial in 2018.
VerticalScope becomes latest public tech firm to make layoffs with 22 percent staff reduction
Cuts come after VerticalScope’s business deteriorated in Q4.
Ada latest Canadian unicorn to make additional staff cuts
The layoffs come four months after Ada reduced its staff by 16 percent.
Invest Ottawa’s 10th birthday party comes with over $6.6 million in funding to support Area X.O
Invest Ottawa will use funding to create remote and simulation options for smart mobility R&D.
Winnipeg-based Cerebra to assist with provincial sleep test backlog
Contract with Manitoba will help alleviate backlog of province’s sleep study cases following pandemic.
AppDirect acquires TBI to expand offerings for technology advisors
AppDirect unified its advisor business under the AppDirect brand earlier this month.
As Clearco and Wayflyer struggle, Paperstack secures $9 million in equity, debt to fuel pivot into e-commerce lending
Paperstack sees room to grow as larger players cut back amid economic headwinds.
OpenText closes $5.8 billion USD acquisition of Micro Focus, makes workforce reduction
OpenText said it expects to cut the combined entity’s teams by 8 percent due to Micro Focus acquisition.
Raven Indigenous Capital Partners tops initial target for second fund with $100 million final close
With Fund II, Raven aims to build more innovative Indigenous economies.
Faced with insolvency, Ottawa’s Tehama forges ahead with founder-backed restructuring
Software startup for remote teams pursuing federal contract after fundraising falls through, bank relationship sours.